{"id":39674,"date":"2015-07-30T00:04:49","date_gmt":"2015-07-29T18:34:49","guid":{"rendered":"http:\/\/vskills.in\/certification\/blog\/?p=39674"},"modified":"2024-04-03T13:19:28","modified_gmt":"2024-04-03T07:49:28","slug":"your-home-is-your-biggest-liability","status":"publish","type":"post","link":"https:\/\/www.vskills.in\/certification\/blog\/your-home-is-your-biggest-liability\/","title":{"rendered":"your home is your biggest liability"},"content":{"rendered":"

\"your<\/a><\/p>\n

Your house is your biggest liability<\/p>\n

We all are proud of our most prized possession– HOME<\/strong>, parting with it seem to be anathema to every one of us, this is our biggest asset and achievement over these years, but is it really so \u2013the abode of peace and serenity , but is it really so?<\/p>\n

Well let\u2019s go back to school, where our accounts teacher would in a stern tone always advocate that an asset is something that puts money in your asset, and a liability is something that takes money, out from your pocket, – always remember Debit the asset account and credit the liability account<\/p>\n

You must be contemplating as to why am I telling you such stuffs which you are already well versed of,<\/p>\n

We live in a revolutionised society wherein the middle class occupies the lion\u2019s share of population, and, and it is the middle class who is always burdened with whooping expenses such as home loan, credit card\"\"<\/a> loan, education fees \u00a0and other liabilities. Their liabilities side would any day outweigh the asset one with huge amount,<\/p>\n

Now can your home meet all the expenses that is incurred on it- your home loan, maintenance cost, and all other petty expenses that eventuates in our daily chores with regard to our abode<\/p>\n

no not possible home is a non-living entity made of brick and cements it doesn\u2019t go to office it doesn\u2019t bear those hectic metro travels, cramped into one compartment with hundreds of men, it doesn\u2019t have to listen to the chidings of the boss when the targets are not met, it doesn\u2019t pay your child\u2019s educational loan, your life insurance premium, \u00a0a television, washing machine, air conditioner, your everlasting desire for car , well my friends the list will never see its end,<\/p>\n

So why do we proudly tout as home being our biggest asset, \u00a0in the process of owning a home we forsake all those other investment opportunities which we could have leveraged on and could have otherwise met not only our home rent but also leave us with enough to sum to invest in fixed deposits, government bonds, capital market<\/p>\n

sometimes we are so desirous of having our prized possession that we trade off all our other quests , and when there is a mishap, and due to some reasons we lose our job then that totally wrecks us, disillusioned us, leaves us traumatized<\/p>\n

The bank is never going to adjust your helplessness, even\u00a0 though financially strained you feel inflation is yet another devil that will\u00a0 eat away all your savings , I strongly believe that home is the most important priority for anyone but what is really important \u00a0is to always apprehend your circumstances and look for alternative sources of income which could finance your home loan instead of adding to the ruins<\/p>\n

Click here for government certification in Accounting, Banking & Finance<\/a><\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Your house is your biggest liability We all are proud of our most prized possession– HOME, parting with it seem to be anathema to every one of us, this is our biggest asset and achievement over these years, but is it really so \u2013the abode of peace and serenity , but is it really so?…<\/p>\n","protected":false},"author":1299,"featured_media":39692,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_joinchat":[],"footnotes":""},"categories":[1519],"tags":[2194,4974,2195],"class_list":["post-39674","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-accounting-banking-and-finance","tag-asset","tag-home","tag-liability"],"acf":[],"yoast_head":"\nyour home is your biggest liability - Vskills Blog<\/title>\n<meta name=\"description\" content=\"Is your biggest asset a liability? Apply for a Vskills certification in Finance now. 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